Truist Financial Forecasts Strong Price Appreciation for Triumph Group (NYSE:TGI) Stock

Triumph Group (NYSE:TGI) had its target price increased by Truist Financial from $18.00 to $19.00 in a report published on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the aerospace company’s stock.

A number of other equities analysts have also weighed in on TGI. TD Cowen upgraded shares of Triumph Group to a “hold” rating in a report on Thursday, December 19th. Bank of America cut Triumph Group from a “buy” rating to an “underperform” rating and reduced their target price for the company from $17.00 to $12.00 in a report on Tuesday, September 24th. JPMorgan Chase & Co. downgraded Triumph Group from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $15.00 to $12.00 in a research report on Monday, October 14th. StockNews.com upgraded Triumph Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Barclays boosted their target price on Triumph Group from $16.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.78.

Triumph Group Price Performance

Shares of TGI stock opened at $18.71 on Tuesday. The firm’s 50-day simple moving average is $18.34 and its 200-day simple moving average is $15.78. Triumph Group has a 1-year low of $11.01 and a 1-year high of $19.71. The firm has a market cap of $1.45 billion, a P/E ratio of 2.75 and a beta of 2.53.

Hedge Funds Weigh In On Triumph Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its stake in shares of Triumph Group by 124.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,318,285 shares of the aerospace company’s stock valued at $43,259,000 after purchasing an additional 1,286,568 shares during the period. JPMorgan Chase & Co. grew its holdings in Triumph Group by 1,207.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 538,904 shares of the aerospace company’s stock valued at $6,946,000 after purchasing an additional 497,684 shares in the last quarter. Old West Investment Management LLC increased its stake in Triumph Group by 1.3% during the 3rd quarter. Old West Investment Management LLC now owns 42,426 shares of the aerospace company’s stock worth $547,000 after buying an additional 565 shares during the period. Geode Capital Management LLC lifted its holdings in Triumph Group by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,732,791 shares of the aerospace company’s stock worth $22,340,000 after buying an additional 129,391 shares in the last quarter. Finally, Barclays PLC boosted its position in Triumph Group by 155.8% in the 3rd quarter. Barclays PLC now owns 148,530 shares of the aerospace company’s stock valued at $1,915,000 after buying an additional 90,456 shares during the last quarter. 94.53% of the stock is owned by institutional investors and hedge funds.

Triumph Group Company Profile

Triumph Group, Inc designs, engineers, manufactures, repairs, overhauls, and distributes aircraft, aircraft components, accessories, subassemblies, and systems worldwide. It operates in two segments, Triumph Systems & Support, and Triumph Interiors. The company offers aircraft and engine-mounted accessory drives, thermal control systems and components, cargo hooks, high lift actuations, cockpit control levers, hydraulic systems and components, control system valve bodies, landing gear actuation systems, electronic engine controls, landing gear components and assemblies, cyber protected process controllers, main engine gearbox assemblies, geared transmissions and drive train components, main fuel pumps, fuel-metering units, primary and secondary flight control systems, and vibration absorbers.